At this rate, who can afford not to go to Cuba! Can someone post the rate for CDN and Euro?

:sun: :beer::sun:

CubanWaters, see the link that I previously posted from elTOQUE. The current street exchange rate for Canadian dollars can be found there, as well as for a slew of other currencies. I've noticed that the rate has now indeed dropped back to 485 CUP to $1 USD as Simon had eluded to earlier. I think his crystal balls are bigger than mine! :lol: Terry

Another small decline today. Down to 480.

The cambio now seems to be falling through the floor! Down to only 470 CUP to $1 USD as of this morning. I think that hurricane has now blown away that continued march upward! Very strange! But so is CUBA! Terry

The rapid decline continues. 430 pesos per USD today.

Simon, any guesses on what the rate will be in January or February? If we go to Cuba it is usually then. I know, impossible to predict but I am hoping it doesn’t go way down.

I'll take a stab at answering that for you, Wessislander. The rate has at least stopped going down... it's now been pegged at 430 CUP to $1 USD for a little more than 2 days, so perhaps it has now bottomed and will begin its rise back up soon. Pure speculation on my part, of course. But the exchange rates did this sort of thing a year ago too and then turned around heading up once again. I think it has just gone through a correction. Inevitably though, it will always go higher and will likely get back to where it was before 2 weeks ago. Of course it will fall again around Christmas and New Year's when a flood of Cuban-Americans will once again visit with family during the holidays - their US dollars also flooding the market and driving the exchange rate down a bit. That happens every year at that time. Terry

Correction: it's not done with its free-fall yet - now down again to 420 CUP to $1 USD. But no worries, it will find the water table eventually and begin to creep up again. It's just a question of when. Terry

Despite the recent correction, the trend since Covid, is the Cuban peso losing value. Based on the current situation (supply and demand, government policies, etc) I see the floor being 350 pesos per USD and a maximum of 500 over the next few months. Big difference I know. But the bottom line is that tourists will still be doing well with foreign currencies.

Now at 415 CUP to $1 USD. Simon, it might just get to that 350 CUP sooner rather than later after all. Terry

You might have to reduce your 15 beer a day habit Terry.

No, I'll have to keep drinking those 15+ cervezas y ron there each day to keep from crying, Simon. And to stay well pickled to ward off the dengue and chukungunya ladden mosquitoes too. That's always worked well for me in the past. They leave me alone - they know my blood will kill them instantly.

Now down again to 410 CUP as of this morning too, btw. I need to send my wife another $600 USD via SendValu on Saturday - we still owe the guy $250 USD for that new lithium battery for the motorina. But now I'm worried that he'll want more considering that the exchange rate has dropped so much since we struck the original deal. My wife can be one heck of a saleswoman though - something else that we have in common. I'm sure she'll figure out how to deal again with that dude. Everything is accomplished there these days with the help of propinas or gifts. She needs to hit the supermarket with her credit card first... perhaps a package of chicken will keep him happy. Terry

It's possible the USD may have hit bottom at 410 for now. The next couple of weeks will be interesting. Back up to 420 today.

Back UP to 440 CUP to $1 as of this morning... just at the right moment after my wife, Yudith, has now received the new $600 USD that I sent to her. She'll be converting that incrementally as needed too, of course. Terry

And back up to 450 CUP to $1 USD today - well on it's way to recovery now. I'm betting it'll hit that 50,000 CUP to $100 USD within 2 weeks.

Some might ask - what is driving the resurgence of the USD's value there in Cuba now, and for all foreign currencies really? Part of that reason is that we're now well into November - the month when all Cubans are shopping for their beer and rum and everything else that will be needed for their fin de anos (end of year / new year's eve) fiestas, because beer especially will be difficult to find once we get into December. I've already got 3 cases of Corona, 4 cases of Bucanaro, 2 cases of Cristal, 2 big bottles of HC 7 year, and 2 bottles of HC Seleccion de Maestros waiting for me in our casa's bedroom for starters when I arrive later in December. I also have 6 x 2L bottles of TuKola and 6 x 2L Lemon-Lime for mix, as well as 6 x 2L bottles of Orange for the kids too. I even have a 24 pack cans of Canada Dry Ginger Ale - a treat when mixed with the HC 7 year rum. Ummm! Still need more beer though. Can never have enough beer. ((h)):palm:((b)) Terry

The rate seems to be going up and down now - it got back up to as high as 465 CUP to $1, but has now fallen back down to 440. Wild swings may be the norm for a bit. Terry

Yes it's prety terrible if you ask me, how much do you plan on carrying, if not a lot go with PESOS. But at someplace where you get better rate.

muntiqa, I'll likely be taking approx. $4,000 USD with me in December to Cuba to support me and my wife during my 24 days there - always better to bring more than you think you'll need for incremental exchange, as the unused portion can be brought back, no problem. I have my USD converted to CUP by the largest street exchanger in all of Camaguey city. He has literally millions of CUP on hand and in all denominations available too - better to go direct to the source rather than using any of the many middlemen in the street. I always get the best rate of exchange from that guy as well. Terry

What info do sellers go by in Cuba??? They generally would prefer to sell to you at an exchange that's as low as they can possibly get. And their opening bid for your hard currencies will typically follow that line. But if you use the El TOQUE daily rate as your comeback and guide, you'll end up with an exchange rate that at least comes close. I understand that the seller needs to make something on the transaction too - so anything 5 to 10 CUP below the El TOQUE rate is a good deal to me when leaving a bit of meat on the bone for the seller as well. However if the reported exchange rate is climbing rapidly each day, one can expect to receive EXACTLY whatever the going rate is at that time. Terry

The street exchange rate seems to have found a new water table - 435 CUP to $1 USD. It's been stuck there for 3 days now. Terry

Foreign currencies are very slowly climbing again. 445 pesos per USD.

I have been reading that the authorities are cracking down on people exchanging money in the street. The safest place should be someone who works in your hotel or casa to do the dirty deed for you!! but make sure you get a good rate.

Or utilize a Cuban friend who can serve as the go-between. A good rate of exchange would be 5 pesos off the currently reported el TOQUE rate. Or, if the rate is increasing daily, the good rate of exchange would be EXACTLY the current reported rate that day.

dale, don't worry about the authorities cracking down - at least on small fry - all talk, no action. If they do crack down on anyone it would be with the big fish - the guys at the top of that food chain with all of the dinero where it all starts. Terry

New exchange rate in Cuba

Anybody care to give an opinion on this!

I don't think anything will change. At least in the short term. A few years ago the government dramatically increased the official rate of Cup to USD. Whatever the new rate is, the street rate will always be higher. Most Cubans don't want the government to know what they are doing. And to ad, I also can't see the government being able to sell foreign currencies anytime soon. Again, they said they would do this the last time they raised the value of the USD and it never happened.

I just saw the new rates posted by Bellagio on TripAdvisor. USD about 402 at the official rate vs 440 on the street. If you already have USD, still probably worth exchanging informally if at large amounts. The big deal for us Canadians is that it probably doesn't make sense to exchange CDN to USD. The official rate is about 291 Cup per CDN. The current informal rate is only 260. But that could change of course. I'll be watching this very carefully.

Hopefully the banks and cadeca's actually have enough Cup on hand. There have been shortages.

I was planning on only bringing USD on my trip. If the current rates continue, I'll bring CDN as well. As long as Cubans can'y buy USD from their banks, I expect the street exchange rate to stay above the official rate.

Simon, is it possible that you could post a link to where the Cuba official rate is posted?

I am counting on Simon to let me know which of the currencies is best to take to Cuba next month. It would be a pleasure to be able to only use my CDN for exchanges but I will probably bring a bit of Euro and USD anyway.

Wess, this is the link for the official rates : https://www.bc.gob.cu/tasas-de-cambio . CW, I still plan on taking a mix of USD and CDN. As I mentioned before, until the Cuban government starts selling USD, I expect the street rate to remain higher than the official one. But as of today, it doesn't make much sense for Canadians to buy USD for their trip.

That’s a great rate for Canadian dollars in Cuba and it is holding steady. I would imagine the people of Cuba are more interested now in dealing with CDN $ than previously.

I exchanged a $100 CDN bill today at the Hotel Nacional today. A little less than the official rate. Received just over 29,200 pesos.

Wessislander, even though the CDN $ is riding high these days in Cuba, Euro and US $ are still high in demand in certain situations, in Havana at least. I would still bring some Euro and/or US dolla to mix with your CDN.
I have mostly used Cuban pesos so far this trip.

Official rates currently….

euro 548
usd 471
cdn 344

Wow, I would love a Cuban vacation right now.

Hey there, Wess. Where did you find those rates that you posted? Today's reported street exchange rates from elTOQUE are even better for you and for everyone else too - except for the Canuck Buck - and of course ONLY if we could get there again as well. I always take USD with me as even with the 3% loss at the Canadian bank doing the exchange to Yankee Doodle, the difference in exchange in Cuba to CUP from the bolsa negra is much more profitable given the spread over what CUP can be acquired with Canadian dollars. ;)

€1 (Euro) = 575 CUP
$1 (USA) = 510 CUP
$1 (CDN) = 333.16 CUP

Terry

From the official Cuban bank rate site that Simon posted #73.

https://www.bc.gob.cu/tasas-de-cambio

Aaaaa! Well I haven't visited a bank or a cadeca in Cuba to exchange my money in years! Good deal on the Canadian dinero though! I wonder why that could be so much higher with the Cuban government rate at the bank? Strange! But hey! Something to consider for next time I guess. Thanks, Wess! Terry